Sunday, January 11, 2009

Count Vikula Mid-Term Grade in Accounting Alchemy: A+

In the latest round of government-mediated financial synesthesia, Citi is parting with its brokerage crown jewel and making it seems like a sweet deal for investors, tax payers (also investors), and the three or four other people who care about the mass insanity that occurs in present day capitalism. In a nutshell, modern alchemy goes something like this: sell Smith Barney + wave magic wand + hold conference call in which you kidnap the next of kin of all potential call participants to prevent any relevant questions from being asked = book $6 after tax billion profit. Brilliant

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